Simi Valley, California Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Simi Valley, California rental market.
Simi Valley, California
Average Apartment Rent
$2,636
Y-o-Y Change in Average
Apartment Rent
3.4%
As of November 2024
Compared to a year ago, Simi Valley, California apartments have recorded a 3.4% rent increase.
Simi Valley, California Average apartment rent trend
Simi Valley, California Average Apartment Rent
Simi Valley, California Apartment rent ranges
At 95.75%, apartments priced Over $2,000 represent the bulk of Simi Valley, California rentals, while condos priced $1,500 - $2,000 hold the lowest share of the market – 4.25%.
Simi Valley, California Housing tenure**
Renters take up 27% of Simi Valley, California real estate, occupying a total of 11,953 units, while homeowners live in 31,983 properties.
Median number of rooms of renter-occupied housing units**
4.5
Renter median household income**
$82,007
Average household size of renter-occupied housing units**
2.62
Rental vacancy rate**
2.2%
Simi Valley, California Renter-occupied housing units by no. of bedrooms**
There are 4,055 rentals in Simi Valley, California with 2 beds making up the highest share of the market, at 34%. Units with No bedrooms, on the other hand, hold the lowest percentage (3%), amounting to 313 units. Overall, the median number of rooms in Simi Valley, California homes for rent is 4.5.
Simi Valley, California Renter-occupied units by age of householder**
Most condos for rent in Simi Valley, California are occupied by residents in the 45 - 54 years age group (21%), followed by those in the 25 - 34 years age group (21%). At the same time, people in the 15 - 24 years age group make up the lowest share of the local rental market – 4%.
Simi Valley, California Renter-occupied housing units by family type**
Simi Valley, California Renter-occupied housing units by the presence of own children**
A total of 6,379 apartments for rent in Simi Valley, California, or 53% of all rentals are family households. Additionally, 28% of rental homes include children under the age of 18 – that’s 3,361 units. All in all, the median size of a renter-occupied household in Simi Valley, California is 2.62.
Simi Valley, California Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 30% of the rental market. In contrast, residents with less than a high school degree reside in 10% of the homes for rent in Simi Valley, California.
Simi Valley, California Renter-occupied units by year structure built**
The highest share of Simi Valley, California apartment rentals, namely 29% or 3,419 units, were Built 1980 - 1989, followed by those Built 1970 - 1979 (17%, 2,065 units), and the ones Built 1960 - 1969 (15%, 1,825 units).
Simi Valley, California Renter-occupied units by year householder moved in**
Median year renter moved into unit 2017
Most Simi Valley, California renters (43%) moved in 2010 to 2017, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Simi Valley, California condos for rent is 2017.
Simi Valley, California Renter-occupied housing units by vehicles available**
When it comes to transportation options, 38% of Simi Valley, California renters have 1 vehicle available per household, 36% of them have 2 vehicles available, and 13% have 3 vehicles available.
Simi Valley, California Means of transportation to work of householders living in renter-occupied housing units**
Simi Valley, California Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Simi Valley, California apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
